SoftBank seeks major policy shift in global tenders for solar power

NEW DELHI: SoftBank founder Masayoshi Son’s ambitious proposal to produce 20 gigawatts (GW) of solar energy in India has triggered a major policy shift with the government now looking at issuing mega global tender packages inviting companies to set up solar power generating capacity of 5-10 GW (5,000-10,000 MW).

Sources familiar with the matter told ETthat after a series of meetings at the prime minister’s office (PMO), the cabinet secretary has formed an inter-ministerial committee  to work out the modalities, much of which will draw upon preconditions that came up in subsequent discussions with SoftBank and its Indian partners. The committee will include members from the ministries of finance, industry, power as well as new & renewable energy.

Preconditions are essentially the policy tweaks which SoftBank and its partners believe are needed to make investments in the Indian solar power sector viable.

 

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